First carbon units issued

TWO Central Queensland industrial companies were the first in Australia to be granted carbon units under the carbon price on Thursday.

The businesses, Alcoa and Queensland Nitrates, had operations in Moura and Gladstone.Alcoa applied for the carbon units for its Gladstone alumina refinery, while Queensland Nitrates applied for its Moura production of both ammonia and ammonium nitrate.

Clean Energy Regulator chief executive Chloe Munro said the issue of the units signalled the start of a domestic carbon market in Australia.

The companies applied for a total of 6.37 million free carbon units, which could now be sold back to government, transfer or use to cut their liability to pay the carbon tax.